Bellway (LON:BWY) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Bellway p.l.c. (LON:BWY) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 2,825.56 ($35.82) and traded as low as GBX 2,462 ($31.21). Bellway shares last traded at GBX 2,476 ($31.39), with a volume of 401,770 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BWY. Citigroup reiterated a “buy” rating and issued a GBX 3,368 ($42.69) price objective on shares of Bellway in a report on Thursday, August 15th. Berenberg Bank upped their target price on shares of Bellway from GBX 2,900 ($36.76) to GBX 3,200 ($40.56) and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised shares of Bellway to an “overweight” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 3,204.20 ($40.62).

Bellway Stock Down 0.5 %

The firm has a market cap of £2.92 billion, a PE ratio of 1,375.56, a PEG ratio of 3.40 and a beta of 1.46. The stock has a 50 day simple moving average of GBX 2,781.04 and a 200-day simple moving average of GBX 2,825.56. The company has a debt-to-equity ratio of 3.78, a current ratio of 5.78 and a quick ratio of 0.50.

Bellway Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Thursday, November 28th will be given a GBX 38 ($0.48) dividend. This represents a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, November 28th. This is a positive change from Bellway’s previous dividend of $16.00. Bellway’s payout ratio is currently 6,166.67%.

Insider Activity at Bellway

In other Bellway news, insider Simon Scougall purchased 515 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was purchased at an average price of GBX 2,528 ($32.04) per share, for a total transaction of £13,019.20 ($16,502.98). Also, insider Keith Adey sold 27,303 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of GBX 3,257 ($41.29), for a total value of £889,258.71 ($1,127,213.47). 3.73% of the stock is currently owned by insiders.

Bellway Company Profile

Bellway p.l.c., together with its subsidiaries, engages in the home building business in the United Kingdom. The company builds and sells homes ranging from one-bedroom apartments to six-bedroom family homes, as well as provides homes to housing associations for social housing. It offers homes under Bellway, Ashberry, and Bellway London brands.